Azure Midstream Partners, LPNYSE
Azure Midstream Partners: Needs To Catch More Than FISH For Grey Skies To Turn Blue
Michael Fitzsimmons • 17 Comments
Michael Fitzsimmons • 17 Comments
Tue, Nov. 1, 6:06 AM
Mon, Aug. 8, 6:33 AM
Mon, May 9, 8:58 AM
- Azure Midstream Partners (NYSE:AZUR) says in its Q1 earnings report that it is suspending distributions for the March quarter, and says reinstatement of distributions is not expected in the near term absent substantial improvement in its operating performance.
- AZUR says its Q1 adjusted EBITDA was $5.1M vs. $8.6M for the year-ago quarter, and distributable cash flow was $2.4M ($0.11/unit) vs. $7.2M ($0.40/unit) in Q1 2015.
Mon, May 9, 6:18 AM
- Azure Midstream Partners (NYSE:AZUR): Q1 Net loss of $113.57M.
- Revenue of $12.68M (-26.8% Y/Y) beats by $1.82M.
Thu, Apr. 14, 12:45 PM
Tue, Apr. 12, 12:45 PM
Thu, Mar. 31, 12:46 PM
Wed, Mar. 30, 3:59 PM
- Azure Midstream Partners (AZUR -13.5%) is sharply lower after reporting Q4 results, including distributable cash flow of $0.38/unit and revenues of $18.1M.
- AZUR says it has $14.4M of cash on hand and intends to keep $9M in minimum liquidity through June 30, and believes that cash generated from operations will be sufficient to sustain operations.
- However, AZUR says it does not expect to remain in compliance with all financial covenants and ratios in its credit agreement throughout 2016 unless requirements are waived or amended, thus its annual 10-K filing will include going concern language.
Wed, Mar. 30, 12:46 PM
Wed, Mar. 30, 6:03 AM
- Azure Midstream Partners (NYSE:AZUR): Q4 Net loss of $1.81M.
- Revenue of $18.14M (+8.3% Y/Y) misses by $3.12M.
Wed, Mar. 23, 12:45 PM
Wed, Mar. 9, 12:47 PM
Tue, Mar. 8, 5:51 PM
- Azure Midstream Partners (NYSE:AZUR) -5.5% AH after delaying its Q4 earnings release and saying it could exceed the permitted ratio of debt to adjusted EBITDA contained in its credit facility as early as the end of Q1 2016.
- AZUR says it expects to be in compliance with all its financial covenants under its credit facility as of Dec. 31, 2015, but because of adverse industry conditions, it could exceed the debt-to-adjusted EBITDA ratio by the end of the current quarter.
- AZUR says it is working with its lenders to waive or eliminate the requirement in the credit facility which states that the receipt of a going concern explanatory paragraph is considered an event of default.
- AZUR also says it is evaluating strategic alternatives to help provide financial stability.
Mon, Feb. 1, 12:48 PM
Mon, Feb. 1, 8:06 AM
- Azure Midstream Partners (NYSE:AZUR) announces temporary suspension of Q4 distribution as it considers various alternatives for re-instating distributions.
- "We view this suspension as a means to reduce leverage while we work to implement a 'one and done' solution that is designed to withstand the possibility of a multi-year challenging energy environment," said I.J. "Chip" Berthelot II, Azure President and CEO.
Thu, Jan. 28, 4:58 PM
- Energy MLPs will survive the current difficult period - unlike many E&P companies, which may not - Stifel analysts say, while urging investors to take a more defensive approach to partnerships with strong balance sheet and coverage ratios, along with conservative management teams.
- Stifel keeps Buy ratings on Buckeye Partners (NYSE:BPL), Energy Transfer Partners (NYSE:ETP), Enterprise Product Partners (NYSE:EPD) and Magellan Midstream Partners (NYSE:MMP), and upgrades Kinder Morgan (NYSE:KMI) - which is no longer an MLP but is still treated like one by many analysts.
- The firm downgrades DCP Midstream Partners (NYSE:DPM), Sunoco Logistics Partners (NYSE:SXL) and Tallgrass Energy Partners (NYSE:TEP) to Hold, and cuts Azure Midstream Partners (NYSE:AZUR) to Sell from Hold.
- Earlier: Kinder Morgan upgraded at Credit Suisse, which sees 40% upside